Question

logarithm problem help?

Answer 1

The amount of money in an account with continuously compounded interest is given by the formula A = Pert, where P is the principal, r is the annual interest rate, and t is the time in years.

Calculate to the nearest tenth of a year how long it takes for an amount of money to double if interest is compounded continuously at 7.5%.

Answer 2

0.6 years
9.2 years
0.9 years
8.2 years

Answer 3

what is the principal amount?

Answer 4

You don't need the principal amount @mastermindkakashi . There's a formula.

Answer 5

ah I see

Answer 6

The formula is \(\Large t=\frac{\ln 2}{k}\)

Answer 7

where t is the time required for a quantity to double. k= r = the rate

Answer 8

@jessicawade

Answer 9

i found it it was 9.2

Answer 10

thanks yo!

Answer 11

Yep. anytime. :)